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Every great business starts with a great idea. Whether you're launching a new product or providing a new service you need careful planning, discipline, research and of course, funding. 

But what do you do when you have a good business idea but no money to invest in it? 

First of all, don’t give up! There are several things you can do to make sure your idea is solid and profitable, before seeking out funding. 

Below, we’re going to look at the six steps you should take to turn your dream into a reality (even when you advent got much money).

1. Start with what you do have

To start with, it’s important not to get hung up on what you don't have and instead focus on what you do have. This includes: 

• Your skills
• Your experience 
• Your knowledge 
• Your research 
• Your tangible resources
• Your network 

These are going to come in handy as you move forward on your entrepre-neurial journey. 

2. Seek out advice 

If you're going to be looking for funding, you need to know the best place to do it and you need to be able to show your idea is viable. As such, it pays to seek out some advice. 

You could get yourself a mentor, speak to other small business owners who have been through the same thing and use online resources. 

3. Do some research 

As well as seeking out advice from others, you should do some of your own research and look at what funding options and support are out there. 

You should also take this chance to do some research into the current state of the market so you can prove your idea is profitable before investing in it. 

Take a look at your target audience, create a buyer persona and get ready to make a business plan. 

4. Determine your needs and create a business plan 

The best way to understand how much funding you’ll need is to create a detailed business plan and financial forecast. 

This should outline your initial needs and the cost of any products or services you’ll need to invest in. 

5. Consider your resources

Then, before you start looking into funding, think about the free or existing resources available to you and how you can use these to cut costs and save money when starting out.

There are a whole host of free tools, apps and services out there that can help you to get started. For example, social media allows you to advertise your business for free and design tools like Canva can help you to create logos and other important imagery, also for free. 

6. Consider funding options

Finally, it’s time to consider your funding options. Although you should use your network and free resources as much as possible, it’s likely that you’ll need some funding along the way. 

There are several different options available to you and some of the most popular ideas include: 

• Small business loans
• Crowdfunding campaigns 
• Borrowing money from friends and family 
• Finding an angel investor  

It’s important to choose the funding option that is going to be most beneficial for you and your new business venture, so don't rush into anything. Take your time and do your research and you’ll find the funding option that’s perfect for you. 

Check out the guides below for more information on how you can find funding and start up your business when you have no money: 

https://entrepreneurhandbook.co.uk/starting-a-business/ 
https://blog.hubspot.com/sales/how-to-become-an-entrepreneur 
https://smallbusiness.co.uk/small-business-grants-uk-2548113/